Jan 7 (Reuters) - Toronto's housing prices are expected to accelerate
further in 2020 unless supply shortages ease, the Toronto Real Estate Board
(TREB) said on Tuesday.
Total home sales in December rose by 17.4% to 4,399 from the 3,746 sales
seen a year earlier, while listings fell by 18.0%, the board said. The average
home price increased to C$837,788 ($646,341.61).
Meanwhile, total home sales in calendar year 2019 jumped 12.6% to 87,825
compared with the decade low of 78,015 sales reported in 2018.
"Taking 2019 as an example, we experienced a strong sales increase up
against a decline in supply. Tighter market conditions translated into
accelerating price growth," TREB's Chief Market Analyst Jason Mercer said in a
release.
"Expect further acceleration in 2020 if there is no relief on the supply
front," he said.
The following is an annual summary of Toronto home sales and prices for 2019
compared with 2018, released by the Toronto Real Estate Board (TREB) on Tuesday.
2019 2018 YR/YR PCT CHANGE
TOTAL SALES 87,825 78,015 12.6%
AVERAGE PRICE C$819,319 C$787,856 4.0%
NEW LISTINGS 152,739 156,504 -2.4%
In addition, here are details on Toronto home sales and prices in December, also
released by TREB on Tuesday.
December November December YR/YR PCT CHANGE
2018
TOTAL SALES 4,399 7,090 3,746 17.4%
AVERAGE PRICE C$837,788 C$843,637 C$749,014 11.8%
NEW LISTINGS 3,531 8,650 4,309 -18.0%
After preliminary seasonal adjustment
December MTH/MTH PCT CHANGE
SALES 7,481 -3.0%
AVERAGE PRICE C$871,029 2.9%
Sales by type of property
December YR/YR PCT CHANGE
DETACHED 1,984 26.2%
SEMI-DETACHED 381 12.1%
TOWNHOUSE 731 19.2%
CONDO APARTMENT 1,255 6.9%
($1 = 1.2962 Canadian dollars)
(Reporting by Kelsey Johnson in Ottawa; editing by Jonathan Oatis)
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